AUD/USD

AUD/JPY Bearish Continuation or Bullish Bounce

Dear Traders,

AUD/JPY is overall bearish. The price must remain below 66.00 in order for bears to stay in control.

65.50-60 is the POC zone where the price might reject lower. The first target will be 65.22, and the break below should target 64.60, 64.36 and 63.90. We can see a lot of historical sellers within the POC. However, a bounce above 65.70 might lead the price to a retest of 66.00. If 66 breaks, then bulls should expect a bounce up. Observe it and trade as the AUD/JPY is the best pair which follows the equities correlation.

The Analysis has been done with the CAMMACD.Core and Sit Systems

 

Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.